30,600 Shares in Dutch Bros Inc. $BROS Bought by State of Michigan Retirement System

State of Michigan Retirement System purchased a new stake in shares of Dutch Bros Inc. (NYSE:BROS) in the first quarter, Holdings Channel reports. The firm purchased 30,600 shares of the company’s stock, valued at approximately $1,550,000.

A number of other hedge funds have also recently modified their holdings of the company. Engineers Gate Manager LP increased its holdings in Dutch Bros by 59.6% during the 4th quarter. Engineers Gate Manager LP now owns 513,525 shares of the company’s stock valued at $31,438,000 after purchasing an additional 191,734 shares during the period. M&T Bank Corp raised its position in Dutch Bros by 1,559.3% during the 4th quarter. M&T Bank Corp now owns 97,334 shares of the company’s stock valued at $5,959,000 after purchasing an additional 91,468 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Dutch Bros by 31.6% during the third quarter. JPMorgan Chase & Co. now owns 204,705 shares of the company’s stock valued at $10,714,000 after buying an additional 49,194 shares during the period. 1492 Capital Management LLC purchased a new position in shares of Dutch Bros during the fourth quarter valued at approximately $1,192,000. Finally, Citizens Business Bank bought a new position in shares of Dutch Bros during the fourth quarter valued at approximately $5,285,000. Hedge funds and other institutional investors own 85.54% of the company’s stock.

Dutch Bros Price Performance

Shares of NYSE BROS opened at $68.28 on Friday. Dutch Bros Inc. has a fifty-two week low of $44.58 and a fifty-two week high of $74.65. The company has a 50 day simple moving average of $61.73 and a two-hundred day simple moving average of $57.33. The company has a market capitalization of $11.92 billion, a price-to-earnings ratio of 106.69, a P/E/G ratio of 2.21 and a beta of 2.31. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.19 and a current ratio of 1.33.

Dutch Bros (NYSE:BROS) last released its earnings results on Wednesday, May 6th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.16. The firm had revenue of $464.41 million during the quarter, compared to analyst estimates of $449.69 million. Dutch Bros had a net margin of 4.61% and a return on equity of 9.42%. The business’s revenue was up 30.7% on a year-over-year basis. During the same period last year, the business earned $0.14 earnings per share. Analysts expect that Dutch Bros Inc. will post 0.84 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on BROS shares. Freedom Capital raised shares of Dutch Bros to a “strong-buy” rating in a research report on Wednesday, July 1st. Stephens assumed coverage on Dutch Bros in a research report on Thursday. They set an “overweight” rating and a $80.00 price objective on the stock. TD Cowen reiterated a “buy” rating and set a $73.00 target price on shares of Dutch Bros in a report on Wednesday, June 10th. Royal Bank Of Canada restated an “outperform” rating on shares of Dutch Bros in a research note on Wednesday, May 20th. Finally, UBS Group reaffirmed a “buy” rating on shares of Dutch Bros in a research note on Wednesday, May 20th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $77.50.

Insiders Place Their Bets

In other news, major shareholder Dm Individual Aggregator, Llc sold 261,055 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $63.02, for a total transaction of $16,451,686.10. Following the completion of the transaction, the insider directly owned 2,410,800 shares in the company, valued at $151,928,616. This trade represents a 9.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Travis Boersma sold 750,000 shares of Dutch Bros stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $63.02, for a total value of $47,265,000.00. Following the completion of the transaction, the chairman directly owned 2,410,800 shares of the company’s stock, valued at approximately $151,928,616. This represents a 23.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 4,086,245 shares of company stock valued at $243,021,771 in the last quarter. 38.90% of the stock is owned by company insiders.

Dutch Bros Profile

Dutch Bros Coffee, trading on the NYSE under the ticker BROS, is an American drive-through coffee chain known for its quick-service model and community-focused brand. Founded in 1992 by brothers Dane and Travis Boersma in Grants Pass, Oregon, the company began as a single coffee stand and has since expanded its footprint across numerous U.S. markets. Dutch Bros specializes in handcrafted espresso drinks, drip coffee, cold brew, energy drinks, smoothies, teas, and a variety of signature “Dutch Freeze” and “Dutch Frost” blended beverages.

The company operates a mix of company-owned and franchised locations, placing a strong emphasis on speed and customer engagement.